Manchester School最新文献_第7页

Access to bank financing and start-up resilience: A survival analysis across business sectors in a time of crisis 获得银行融资和创业韧性：危机时期各商业部门的生存分析

IF 1.1 4区经济学

Manchester School Pub Date : 2023-03-03 DOI: 10.1111/manc.12433

Angelo Castaldo, Rosanna Pittiglio, Filippo Reganati, Domenico Sarno

{"title":"Access to bank financing and start-up resilience: A survival analysis across business sectors in a time of crisis","authors":"Angelo Castaldo, Rosanna Pittiglio, Filippo Reganati, Domenico Sarno","doi":"10.1111/manc.12433","DOIUrl":"https://doi.org/10.1111/manc.12433","url":null,"abstract":"The presence of exogenous global shocks due to the 2007/2008 economic and financial crisis and the current global pandemic crisis are deeply hampering economic operators' overall ability to access credit. Small and medium-sized enterprises and start-ups are most severely affected by credit rationing. This paper investigates whether access to bank loans in the early stage of a start-up's lifecycle is a predictor of a firm's default in a time of economic crisis. We ground our analysis on a firm-level longitudinal data set of Italian new capital companies born from 2004 to 2006. Implementing a discrete-time proportional hazard model we study their likelihood of default up to 2014 after controlling for a consistent number of other firms, industry and innovation related characteristics. The main findings confirm that access to bank loans significantly enhances the resilience of Italian start-ups. By taking into consideration the sectoral degree of innovation where firms operate, we also find that bank financing still exerts a positive influence on firm survival in both less and more innovative industries. However, there is evidence of a stronger positive influence on of long-term debt on the survival of firms operating in low- and medium-low innovative industries.","PeriodicalId":47546,"journal":{"name":"Manchester School","volume":"91 3","pages":"141-170"},"PeriodicalIF":1.1,"publicationDate":"2023-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/manc.12433","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50119505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Centralized bargaining with pre-donation in a vertically related industry 垂直相关行业的集中议价和预捐赠

IF 1.1 4区经济学

Manchester School Pub Date : 2023-02-16 DOI: 10.1111/manc.12430

Ismail Saglam

引用次数: 1

Input price discrimination and strategic inventory 投入品价格歧视与战略库存

IF 1.1 4区经济学

Manchester School Pub Date : 2023-02-12 DOI: 10.1111/manc.12429

Toshiki Matsuoka

引用次数: 0

Foreign passive ownership and tariff-induced free technology transfer under vertical integration 纵向一体化条件下的外国被动所有制与免关税技术转让

IF 1.1 4区经济学

Manchester School Pub Date : 2023-02-03 DOI: 10.1111/manc.12428

Chuyuan Zhang, Sang-Ho Lee

引用次数: 0

Does the employment effect of national minimum wage vary by non-employment rate? A regression discontinuity approach 国家最低工资对就业的影响是否因非就业率而异？回归不连续性方法

IF 1.1 4区经济学

Manchester School Pub Date : 2022-11-29 DOI: 10.1111/manc.12427

Lei Xu, Yu Zhu

引用次数: 0

Bank deposits and textual sentiment: When an European Central Bank president's speech is not just a speech 银行存款与文本情感：当欧洲央行行长的演讲不仅仅是一场演讲时

IF 1.1 4区经济学

Manchester School Pub Date : 2022-11-24 DOI: 10.1111/manc.12426

Dimitris Anastasiou, Apostolos Katsafados

引用次数: 3

Managerial delegation, network externalities and loan commitment 管理授权、网络外部性与贷款承诺

IF 1.1 4区经济学

Manchester School Pub Date : 2022-11-09 DOI: 10.1111/manc.12425

Xubei Lian, Kai Zhang, Leonard F. S. Wang

引用次数: 1

The effect of education on homeownership: Evidence from 20th century school attendance laws in the United States 教育对住房所有权的影响：来自20世纪美国入学法的证据

IF 1.1 4区经济学

Manchester School Pub Date : 2022-09-09 DOI: 10.1111/manc.12421

Mary A. Silles

引用次数: 0

The leverage effect of bundling on monopoly power and product quality 捆绑对垄断力和产品质量的杠杆效应

IF 1.1 4区经济学

Manchester School Pub Date : 2022-09-05 DOI: 10.1111/manc.12424

Hui-Ling Chung, Jin-Li Hu, Yan-Shu Lin

{"title":"The leverage effect of bundling on monopoly power and product quality","authors":"Hui-Ling Chung, Jin-Li Hu, Yan-Shu Lin","doi":"10.1111/manc.12424","DOIUrl":"10.1111/manc.12424","url":null,"abstract":"This paper re-examines the leverage effect of bundling under vertical quality differentiation. That is, it studies whether or not the firm can still extend its monopoly power from the monopolist product market to the competing product market by bundling under vertical product quality differentiation. There is an intangible product (such as cloud storage, after sale service, etc.) in a bundled package with vertical quality differentiation. The model herein enables us to further analyze the effects of bundling on a competitor's profit, consumer surplus, and social welfare when the bundler is a high- or low-quality firm and is facing a single-product competitor. When the bundling product is a high quality product, bundling reinforces the monopolist's market power toward the monopoly good, which runs opposite from the traditional leverage effect. If bundling enhances (shortens) the quality difference in competing goods, then bundling increases (reduces) both the competitor's profit and social welfare, whereas it decreases (increases) consumer surplus. Contrary to traditional literature, we find that mixed bundling may not be superior to pure bundling and the price discrimination via mixed bundling by the multi-product firm may enhance the consumer surplus.","PeriodicalId":47546,"journal":{"name":"Manchester School","volume":"90 6","pages":"668-688"},"PeriodicalIF":1.1,"publicationDate":"2022-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80667990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

On interconsumer externalities in a model of sales 论销售模型中的消费者间外部性

IF 1.1 4区经济学

Manchester School Pub Date : 2022-08-28 DOI: 10.1111/manc.12422

Evangelos Rouskas

{"title":"On interconsumer externalities in a model of sales","authors":"Evangelos Rouskas","doi":"10.1111/manc.12422","DOIUrl":"10.1111/manc.12422","url":null,"abstract":"I highlight interconsumer externalities in a static model of sales with homogeneous products and bidimensional consumer heterogeneity wherein there exists two-type search intensity heterogeneity and two-type valuation heterogeneity. An increase in the percentage of consumers with high valuation creates a dichotomy in the market. The consumers who experience the increase in their valuation become better off; I call these consumers privileged. All other consumers either become worse off or remain unaffected; I call the consumers who become worse off disadvantaged and the consumers who remain unaffected unprivileged. In the environment with privileged and disadvantaged consumers, the net effect on total consumer surplus is ambiguous. These results come in contrast to a dynamic Coasian version of the model in which if the percentage of consumers with high valuation increases, always all consumers become better off. Public policy interventions that target an increase in the welfare of consumers by altering the mix of the population should (i) distinguish between dynamic and static markets; and (ii) take into account under which conditions in static markets the net effect on consumer surplus is positive.","PeriodicalId":47546,"journal":{"name":"Manchester School","volume":"90 6","pages":"689-714"},"PeriodicalIF":1.1,"publicationDate":"2022-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90895057","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0